1983, when Morocco found itself in a payment cessation:
The reform of the exchange rate regime proposed by BAM and the Ministry of Finance at the end of 2016 is agitating the economic world. The fear of seeing the exchange rate rise for the importers followed by a devaluation of the Dirham is perennial. However, the current fixed exchange rate regime, in which the central bank meets all the needs in the operators currencies, was one of the aggravating factors of the biggest economic crisis in the contemporary history of Morocco, that of 1983. The latter also conditioned the major reforms of the 1980s and 1990s and, in fact, the experience of several generations. A massive presence of the State. It is in the 1970s that the first signs of vulnerability of the Moroccan economy are felt. In a World Bank report dating back to 1976, the international experts of the day already noted a massive presence of the State in the productive activity. The first line of action of the authorities was marked by a direct public investment (Sweets, SOMACA, CIH, BNDE, ONI,... etc.) associated with a protection system of the nascent Moroccan industry. The second axis has been coupled with the promotion of the exports. Encouraged by the rise in the phosphate prices in 1974, the State has acted as promoter and contractor for the major projects in various sectors (cement industry, chemical industry,... etc.).
The caravan of the traders, the craftsmen and the self-contractors of the BMCE Bank makes a stopover in El-Jadida:
The caravan of the traders, the craftsmen and the self-contractors of the BMCE Bank made a stopover in El-Jadida on Wednesday the 1st of March as a part of a tour in various cities of the Kingdom. Within the framework of this caravan, the bank experts made themselves available to the beneficiaries to bring all the necessary light to the entrepreneurship projects promoters with regard to their professional projects through the legal advantages' awareness, the social and the tax status of the self-contractor status and the explanation of the banking offers dedicated to facilitate the cash management and the access to the funding for beneficiaries.
Banks: An ex BMCE appointed the CEO of Citibank Maghreb:
The Citibank Group has appointed Mr. Ramz Hamzaoui as the new General Manager for North Africa. Reporting to Mr. Atiq Rehman, the CEO of Citi's Middle East and Africa region, Citi will oversee all product and function managers covering Morocco, Tunisia and Algeria, ensuring alignment of strategy, priorities and growth opportunities for Citi in this region. Mr.Hamzaoui has 25 years of experience in the banking sector, ranging from corporate banking, treasury, trade, project finance and structured finance in Africa. Obviously, he managed the London (Medicapital Bank) and Tunisian (Axis Capital) subsidiaries of the BMCE Bank Group.
Morocco, a fertile ground for the Islamic finance:
Among the ingredients of this expected success, the report entitled "Islamic Financing, a catalyst for shared prosperity?" refers to the 97% rate of religiosity among the population. The authors referred to a Gallup poll published in 2010 that relies on the percentage of adults in a given country who answered the question "Is religion an important part of your daily life?" Another favorable factor for the future of the Islamic finance in Morocco, the large proportion of Moroccans that are not banking on grounds of religious convictions. Indeed, 3.81 million Moroccans over 15 years old, or a 26.8%, do not have a bank account for religious reasons, notes the report, which shows an overall banking rate of a 39.1% in the country. The potential is therefore important and the expectations interesting. Indeed, a 54% of Moroccan SMC express their preference for Sharia-compliant products, notes the WB document and the IDB, indicating that bank credit currently represents only a 24% of the financing of these SMCs.
Mr. Houssam Bouaicha is the lucky winner:
It is Houssam Bouaicha who won the 2017 cars' sticker of the Attijariwafa bank and Wafacash that had the pleasure of handing the keys of a beautiful car to the lucky winner at the premises of the Attijariwafa bank in the presence of several bank officials and Wafacash. For the second time, the Attijariwafa bank and Wafacash organized a raffle to encourage the online payment in favor of all those who have paid their invoices through the automated banking machine or online.
Oujda: arrest of two individuals for attempted breaking and entering in a bank:
On Friday, the 3rd of March, the authorities of the Oujda police station arrested two individuals suspected of involvement in an attempted robbery and breaking and entering in an agency of " Al Barid Bank ". According to a statement issued by the General Directorate of National Security, GDNS, suspects, aged 18 and 25, and one with a criminal record, broke the locks of the agency's external door, located at Hay Riad with the intention of robbery, but they had to flee as a result of the warning system at the agency's disposal before a police patrol intervened and arrested them.
The Moroccan women ranked among the 50 most influential businesswomen in the French speaking Africa:
The weekly magazine "Jeune Afrique" published in its latest edition a ranking of the 50 most influential businesswomen of the French speaking Africa with, on top, Miriem Bensalah-Chaqroun, the President of the General Confederation of the Moroccan Companies, GCMC. In this ranking, the President of the Ynna Holding Group, Mama Tajmouati is in the second place, followed by the CEO of the agri-food group Diana Holding Rita Zniber, the CEO of Aksal Salwa Idrissi Akhannouch and the Deputy General Manager of Saham Finances Nadia Fettah. The Executive Manager of the Finance and the Management Control in the OCP, Ghislane Guedira, the President of the Administration Council of Saham Santé and Phone Group, Ghita Lahlou, the General Manager of the Moroccan company of equipment, supply and import (cars) Saida Karim Lamrani, the CEO of Inwi Nadia Fassi-Fehri, the General Secretary of Ynna Holding Sarah Kerroumi, the General Manager of Sothema Lamia Tazi, the Directory President of Wafa Salaf Laila Mamou and the Deputy General Manager of Intelcia Najat El Jebari respectively occupy the 7th, 8th, 9th, 15th, 16th, 20th, 28th and 29th in this ranking, where there is only one representative from Algeria.
Crédit: IMPERIUM MEDIA
